Office Medical
Queens Commercial Condo - 100% Occupied/8% CAP
119-40 Metropolitan Ave, Queens, NY 11415
Listing Price: $4,805,000
Investment Overview
The subject offering is a 15,618 square foot multi-tenant commercial condominium located on the lower-level base of a 61,000 square foot 33-unit residential building on Metropolitan Avenue in Queens’ Kew Gardens neighborhood. The property is 100% occupied by seven tenants, and it also includes nine on-grade parking spaces, which are also 100% occupied. The property is being offered at an 8% CAP on existing income. All tenants have annual rental increases, and all the tenants are responsible for a proportionate share of the expenses. The property is zoned for Community Facility, and it is located in one of Queens’ most desirable residential neighborhoods. Metropolitan Avenue is the main corridor in Kew Gardens. This property is located between Lefferts Boulevard and Brevoort Street, and is only six blocks away from the Kew Gardens LIRR Train Station. This is a minimal management commercial asset with outstanding cash flow. Ownership has plans/board approvals to install an elevator. Please reach out to listing agent for details.
Exclusively Listed By
Office Medical
Queens Commercial Condo - 100% Occupied/8% CAP
Listing Price: $4,805,000
Investment Highlights
- 15.618 SF, 100% Occupied Commercial Condo. 8% CAP Going-In.
- Offering Consists of Seven Units + Nine Parking Spaces.
- Zoned for All Medical/Community/Healthcare Uses - Great Kew Gardens (Queens) Neighborhood.
Investment Overview
The subject offering is a 15,618 square foot multi-tenant commercial condominium located on the lower-level base of a 61,000 square foot 33-unit residential building on Metropolitan Avenue in Queens’ Kew Gardens neighborhood. The property is 100% occupied by seven tenants, and it also includes nine on-grade parking spaces, which are also 100% occupied. The property is being offered at an 8% CAP on existing income. All tenants have annual rental increases, and all the tenants are responsible for a proportionate share of the expenses. The property is zoned for Community Facility, and it is located in one of Queens’ most desirable residential neighborhoods. Metropolitan Avenue is the main corridor in Kew Gardens. This property is located between Lefferts Boulevard and Brevoort Street, and is only six blocks away from the Kew Gardens LIRR Train Station. This is a minimal management commercial asset with outstanding cash flow. Ownership has plans/board approvals to install an elevator. Please reach out to listing agent for details.
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